Accountancy Designed Around GP Practices
Running a GP practice involves more than preparing annual accounts. Partnership profits, partner drawings, NHS income, pensionable profits, superannuation contributions, tax liabilities and practice cash flow all need to work together.
GP practices have financial requirements that are different from many other businesses. A GP partnership may need to manage NHS income, private income, practice expenses, partner profit allocations, drawings, pensionable profits, superannuation contributions and individual partner tax liabilities at the same time.
At CFA Accountants, we provide specialist accounting and tax support designed around these requirements — working with established GP practices, new GP partnerships, incoming and outgoing partners, and practices undergoing structural changes.
Book a Free ConsultationWhat We Provide for GP Practices
A fully coordinated accounting and tax service built around the way GP practices and partnerships actually operate.
Practice Accounts & Partnership Tax
Annual practice accounts, partnership returns and profit allocation schedules — prepared and coordinated as one connected process.
GP Partner Self Assessment
Individual partner tax returns, income tax, Class 4 NI, payments on account, pension-related tax figures and balancing payments.
NHS Pension & Superannuation
Pensionable profit calculations, Type 1 certificates, PCSE administration, contribution reconciliations and annual allowance calculations.
Drawings & Tax Planning
Partner drawings schedules, tax reserve calculations and informed planning based on current practice financial information.
VAT & Management Accounts
VAT treatment review, return preparation, monthly management accounts and cash flow information between year ends.
Partnership Changes & Mergers
Accounting and tax support for incoming and outgoing partners, retirements, mergers and practice restructuring.
GP Practice Accounts & Partnership Accounts
Your annual accounts should do more than meet a filing or compliance requirement. They should give partners a clear understanding of how the practice has performed and how profits have been allocated.
We prepare practice and partnership accounts covering:
We can use the completed accounts as the basis for partner tax calculations, drawings reviews and relevant NHS pension calculations — keeping all figures consistent across the different returns.
Partnership Tax Returns & Profit Allocations
A GP partnership is treated differently from a limited company for UK tax purposes. The partnership return reports the partnership's results and each partner is responsible for tax on their share of the partnership profits. HMRC confirms that individual partners are responsible for the tax due on their own share of partnership profits.
We can prepare:
GP Partner Self Assessment
GP partners are taxed personally on their allocated share of partnership profits rather than simply on the amount they draw from the practice. We prepare and submit GP partner Self Assessment tax returns and calculate:
For 2026/27, HMRC's guidance states that self-employed individuals with profits above £12,570 pay Class 4 National Insurance at 6% on profits between £12,570 and £50,270 and 2% on profits above £50,270. Individual circumstances affect the final calculation.
Partner Drawings & Tax Planning
Partner drawings are not the same as taxable profit. A partner can draw money from the practice during the year, while their final taxable position is determined by their share of the partnership's taxable profit and their individual circumstances.
We prepare drawings schedules that take into account:
This helps partners make informed decisions about drawings based on the practice's financial information rather than simply looking at the bank balance.
NHS Pension, Superannuation & PCSE Support
NHS pension administration is an important part of GP partnership accounting. CFA can support GP practices and GP partners with the accounting, calculation, certification, reconciliation and administrative aspects of NHS pension and superannuation requirements.
PCSE confirms that GP and non-GP partners need to complete a Type 1 Annual Certificate of Pensionable Profits for each pension year, and that the certificate is used to ensure NHS pension contributions have been correctly paid and allocated to the member's pension record.
PCSE also provides a specific GP Pension Accountant role allowing accountants acting for GP Pension Scheme members to complete Type 1 and Type 2 forms on their behalf and check Employee Contribution Statements. The member remains responsible for logging in to complete the declaration and submit the form. Learn more at PCSE.
Our support includes:
Our Process
Practice accounts → Pensionable profit calculation → Pension contribution calculation → Certificate preparation → Reconciliation → Supporting records. This gives the practice and partners a clear audit trail between the accounting records and pension submissions.
Annual Allowance & Pension Tax Calculations
GP pension arrangements can have tax implications that need to be considered alongside the partner's wider tax position. CFA can assist with tax calculations and accounting analysis relating to pension contributions and pension-related figures.
For 2026/27, HMRC states that the standard pension annual allowance is £60,000, subject to the applicable rules, including potential tapering for individuals with higher adjusted income. The standard individual lump sum allowance is £268,275. Note: the Lifetime Allowance was abolished from 6 April 2024 and replaced with new lump sum allowances.
We can help with:
Important distinction
Our service covers accounting, tax calculations, pension records, certificates, reconciliations and administration. We do not provide recommendations on specific pension investments or products. Where regulated financial advice is required, we can work alongside an appropriately authorised financial adviser. The FCA's guidance distinguishes pension administration from regulated financial advice.
VAT Support for GP Practices
VAT treatment depends on the nature of the services provided and the circumstances in which they are supplied. HMRC's VAT guidance specifically covers services provided by doctors and other registered health professionals with specific guidance for GPs.
Management Accounts & Cash Flow
Annual accounts tell you what happened. Management information helps you understand what is happening now. For practices that require ongoing financial information, we can prepare management accounts and cash flow information covering:
Practice Mergers & Partnership Changes
Changes to a GP partnership can affect the practice's accounts, profit allocations, capital, current accounts, drawings and tax position. We can provide accounting and tax support for:
Where legal advice or drafting is required, we can work alongside the practice's solicitor.
GP Practice Accountancy — Frequently Asked Questions
Why Choose CFA for Your GP Practice?
Specialist Focus
We understand that GP practices have accounting, tax, partnership and NHS pension requirements that differ from ordinary businesses. We work with these requirements as standard.
One Connected Service
Practice accounts, partner tax, drawings and pension-related accounting are coordinated rather than handled as disconnected tasks — keeping all figures consistent across every submission.
Practical Support
We focus on clear calculations, organised records and practical financial information — giving partners the information they need to make decisions.
Technology-Enabled
We use modern accounting technology to make bookkeeping, reporting, records and communication more efficient — reducing administration for the practice and its partners.
Dedicated Support
A consistent accounting team that understands your practice, its partners and its financial position — not a different person every time you call.
Clear, Agreed Fees
We agree the scope and fee with you before work begins. Depending on your practice's requirements, your service can include:
The exact fee depends on the size of the practice, number of partners, transaction volume and services required.
Book a Free ConsultationGP Accountants in Manchester, Salford & Greater Manchester
CFA Accountants supports GP practices, GP partners and medical professionals across:
Fixed-fee accountancy for GP practices
All fees agreed upfront following a free consultation. No hourly billing, no surprises.
We Also Support
Doctors & Medical Professionals
Salaried GPs, locums, hospital consultants and hospital doctors.
Learn more →Dentists & Dental Practices
NHS and private income, payroll, tax planning and practice accounts.
Learn more →Law Firms & Solicitors
SRA compliance, client money rules and legal sector tax planning.
Learn more →Contractors & Freelancers
IR35 advice, limited company accounts and self-assessment.
Learn more →Speak to a GP practice accountant today
Practical accounting. Clear calculations. One dedicated team. Supporting GP practices across Manchester, Salford and Greater Manchester.
Book a Free Consultation